TPI Composites (NASDAQ:TPIC) Upgraded at StockNews.com

StockNews.com upgraded shares of TPI Composites (NASDAQ:TPIC) from a sell rating to a hold rating in a research note published on Monday morning.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th. Bank of America reduced their price objective on TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Roth Mkm reduced their price objective on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a research note on Friday, February 21st. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $2.00 price objective (down from $4.00) on shares of TPI Composites in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $3.83.

TPI Composites Stock Performance

TPIC opened at $1.14 on Monday. TPI Composites has a 52-week low of $1.10 and a 52-week high of $5.75. The stock has a market capitalization of $54.04 million, a PE ratio of -0.22 and a beta of 1.82. The stock’s 50 day moving average price is $1.57 and its 200-day moving average price is $2.73.

TPI Composites (NASDAQ:TPIC) last released its earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.66). The firm had revenue of $346.51 million for the quarter, compared to analysts’ expectations of $364.83 million. Research analysts forecast that TPI Composites will post -0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TPIC. Intech Investment Management LLC purchased a new stake in shares of TPI Composites during the third quarter worth about $65,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of TPI Composites in the 3rd quarter valued at approximately $155,000. Quantbot Technologies LP lifted its holdings in shares of TPI Composites by 24.9% in the 3rd quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 5,653 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of TPI Composites by 391.9% during the third quarter. BNP Paribas Financial Markets now owns 64,645 shares of the industrial products company’s stock worth $294,000 after buying an additional 51,502 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in TPI Composites during the 3rd quarter valued at about $88,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

TPI Composites Company Profile

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs) in the United States, Mexico, Europe, the Middle East, Africa, and India. It also provides composite solutions for the automotive industry; and field service inspection and repair services comprising diagnostic, repair, and maintenance services for wind blades to OEM customers, and wind farm owners and operators.